This project has been funded with support from the European Commission.

This publication reflects the views only of the author, and the Commission cannot be held responsible for any use which may be made of the information contained therein

DOCUMENT TYPE

External document

PLACE University of Split| Split | CROATIA

TIME May 24, 2019

Financial Management, Accounting & Controlling curricula

development for capacity building of public administration

STEERING COMMITTEE AT UNIVERSITY OF SPLIT

MEETING MINUTES

Prepared by: Sladjana BENKOVIĆ | University of Belgrade | SERBIA

This project has been funded with support from the European Commission. This publication reflects the views only of the author, and the Commission cannot be held responsible for any

use which may be made of the information contained therein

2 Financial Management, Accounting & Controlling curricula development for capacity building of public

administrationSteering Committee Minutes

MINUTES

Introduction

The 7th Steering Committee Meeting was held during second Study visit to FINAC project partner

institution University of Split, in Split, Croatia, on May 24, 2019. The Steering Committee Meeting was

chaired by Sladjana BENKOVIĆ, project coordinator, Aleksandar JOVIĆ, project secretary and Ivana BILIĆ,

project leader of the partner institution. All the project representatives received the Agenda and

supporting documentation that had to be adopted five days in front.

Agenda

FINAC Steering Committee meeting No. # 7

University of Split, Faculty of Economy, May 24, 2019. 09.30-11:00

Chair: Professor Sladjana Benković, Ph.D., Project Coordinator (University of Belgrade)

Aleksandr Jović, MSc, Project Secretary (University of Belgrade)

Associate professor, Ivana Bilić. Ph.D., University of Split member of Steering Committee

AGENDA

Item Time

(estimated)

Input

prepared

by

Voting Reference documents

1 Establishing the quorum 2 min N/A N/A N/A

2 Adoption of the Agenda 2 min UBG Yes Agenda

3

Adoption of the minutes from

Steering Committee meeting

#6

11 min UBG Yes Minutes from Steering Committee

meeting#6 http://www.finac.org.rs/site/results

4

Report on the implementation

of the last 6 months activities

(adoption)

5 min UBG Yes Power point presentation &oral input

5

Plan on implementation next

activities in upcoming 5

months

20 min UBG Yes Power point presentation &oral input

6 A word about financial issues

of FINAC project 15 min UBG Yes Power point presentation &oral input

This project has been funded with support from the European Commission. This publication reflects the views only of the author, and the Commission cannot be held responsible for any

use which may be made of the information contained therein

3 Financial Management, Accounting & Controlling curricula development for capacity building of public

administrationSteering Committee Minutes

7 Financial audit of the project

and Financial reporting 10 min UBG No Power point presentation &oral input

8 The second report about

internal evaluation 10 min UNIST No Power point presentation &oral input

9 AOB (any other business) 15 min N/A Possible N/A

Item 1: Establishing the quorum

The quorum for Steering Committee No. 7was present.

Item 2: Adoption of the Agenda

The Agenda proposed at the beginning of the meeting was accepted without any complaints.

Item 3: Adoption of the minutes from Steering Committee meeting # 6

Minutes from Steering Committee Meeting # 6, held during the 2nd visit of FINAC project to Universita

Degli Studi Guglielmo Marconi, in Rome, Italy, on December 12, 2018 wasaccepted without any

complaints.

Item 4: Report on the implementation of the last 6 months activities (adoption)

Project coordinator, Sladjana BENKOVIĆ, presented the results of project activities during the last six months, and informed participants about the progress of all activities in terms of the work packages. Additionally, she emphasized that the implementation of the project work packages should be in line with the schedule. She informed all members of Steering Committee about the following activities that are accomplished since fifth Steering Committee:

• Completed activities on WP.1 • Just about closing activities on WP.2.

– Study visits, and equipment and printing purchase – Final step in the process of Master degree programs accreditation in Serbia – WP.3

• Final activities of licensing Master degree programs in Albania – WP.3 • Accreditation activities of Master degree program in Albania • Enrolled students on all 6 regional universities in Albania and Serbia - WP.4 • Following implementation of classes at all 6 universities - WP.4 • Final trainings for employees in public administration in Serbia- WP.5. • Final trainings for employees in public administration in Albania – WP.5 • Project quality control and monitoring - WP.6.

– Regional visits to Albania in March and Serbia in May • Dissemination activities of master programs – WP.7.

– Preparation & dissemination of Newsletter #8 • Project management - WP.8.

The report was accepted without any complaints.

This project has been funded with support from the European Commission. This publication reflects the views only of the author, and the Commission cannot be held responsible for any

use which may be made of the information contained therein

4 Financial Management, Accounting & Controlling curricula development for capacity building of public

administrationSteering Committee Minutes

Item 5: Plan on implementation next activities in upcoming 5 months

Project coordinator Sladjana BENKOVIC emphasized the importance of the final activities in upcoming months, having in mind that the project should be closed by October 14, 2019. This means that in upcoming months one of the top priorities is to finish the planned activities regarding work packages such as follows:

• WP.2 To organize closing project event in Belgrade – UB host institution • WP.3 To apply for accreditation approval for Master degree programs in Albania • WP.4 To organize exams and mentor Master theses • WP.6 To prepare Report about Study visit to UNIST

– Second Internal Quality Report • WP.7 To boost project visibility with publishing the newsletter number 9

– Activities in terms of promotion for academic 2019/2020 in March • WP.8 Project management - on going activity till end of the project

– Financial project audit, – Gathering and checking the whole documentation, – Getting accreditation document in Albania, – Organizing closing project event in Belgrade in September 26-28, 2019. – Writing Report for EACEA.

The plan was accepted without any complaints.

Item6: A word about financial issues of FINAC project

Project secretary Aleksandar JOVIC informed all members of Steering Committee that the new financial

reporting approach will be put into practice for all partner regional universities (AL&RS) in June 2019. All

partners will be asked to send the updated Financial Statements with supporting financial documentation

during June 2019. After receiving the updated Financial Statements with supporting documentation and

signed Annex V, the last installment (savings in Equipment Costs) will be transferred to the partners.

Finally, project secretary explained the 4thinstallment (Second installment of second pre-financing) - the

coordinator transferred 20% of the beneficiary’s total Erasmus+ grant budget to the beneficiaries that had

demonstrated expenditures covering at least 90% of the total amount already transferred funds. This

happened after the coordinator received and approved the updated Financial Statements with necessary

documentation and materials for the activities that have been done.

Final 10 % (final balance) of the budget partners, that show pre-financing (declare 10 % in Financial

Statement and justify with supporting documents), will receive after EACEA accepts FINAC Final report

and pay final balance to the University of Belgrade (probably at the beginning of 2020).The final amount

of the grant has to be transferred to the beneficiary by the coordinator and will be defined only when the

total Erasmus+ grant is confirmed by the Executive Agency after the end of the project. All outstanding

payments to cover actual eligible expenditures (justified and declared in Financial Statement), that have

not been received in previous instalments, will be transferred to the beneficiary within 30 days after the

final payment from the Executive Agency is received. Additionally, the beneficiary institution has to

This project has been funded with support from the European Commission. This publication reflects the views only of the author, and the Commission cannot be held responsible for any

use which may be made of the information contained therein

5 Financial Management, Accounting & Controlling curricula development for capacity building of public

administrationSteering Committee Minutes

provide all necessary documents and materials in terms of all performed activities to the coordinator

within the foreseen deadline (October 14th 2019).

Also, it was pointed out that staff working time is the time actually spent on direct work on the Project.

Staff working time has to be clearly justified and should match the underlying time records. Staff working

time (declared staff costs periods and/or project's travels) should exclude annual leave, public holidays,

training and sick leave, etc. More details could be found in GUIDANCE NOTES for Report of Factual Findings

on the Final Financial Report Type II (guide for auditors). Once again, he stressed out that attention should

be directed on differences between “saved” and “unspent” money. At the end, he explained that

subcontracting must be done on the basis of a contract, which should describe the specific task being

carried out and its duration. It must include a date, project number and the signature of both parties:

Beneficiary and service provider. Beneficiaries and their own centers/departments are not allowed to

operate in a subcontracting capacity for the project.

Item 7: Financial audit of the project and financial reporting

Project secretary Aleksandar JOVIC informed all members of Steering Committee that Audit will be

subcontracted till June 15th, 2019. Audit will be performed from September 15th, 2019 till the end of

November 2019. All partners will need to submit updated Financial Statements for period from

15/10/2016 to 10/09/2019 with supporting documentation by September 10th, 2019. Final Financial

Statements (for period from 15/10/2016 to 14/10/2019) partners will need to submit by November 15th,

2019 with all supporting documents. Please note that auditors can ask for additional financial documents

both for actual and unit costs (e.g. proofs of payments for staff involved in the activities performed and

official accounting books with reference to staff).

Item 8: The second report about internal evaluation

Ivana BILIĆ, leader of UNIST partner institution, responsible for quality control implementation, informed

all partners that by September 15, 2019 she will be working on the Internal quality control document. The

document will include achievements by all work packages and the final results of project, and it will be

ready for adoption for 8th Steering Committee. The 8th Steering Committee will be organized during Closing

project event in Belgrade September 26-28, 2019.

Item 9: AOB (Any other business)

N/A